Newsletters
Sayer Vincent sends a monthly newsletter to its clients and others who register to receive it. It keeps you informed of news and developments that may affect your organisation. If you would like to receive the newsletter by email or would like further information on any topics covered in newsletters, do please contact us on svinfo@sayervincent.co.uk
Tell us if we need to change your contact details or if you would like us to send the newsletter to more people in your organisation. We are happy to send to treasurers or other trustees - just send the additions or changes to svinfo@sayervincent.co.uk
Past editions of newsletters are available to download from the right-hand menu. A summary of our latest newsletter can be found below.
May 2013
Sayer Vincent annual review 2012
Our review of our work in 2012 is out now and can be downloaded from the website. In 2012, over 1,100 people from 578 organisations attended 46 training events organised by Sayer Vincent. We also published new made simple guides and updated existing ones. Our annual review shows how we try to make a difference – making charities more effective. We welcome your feedback.
Charity Accountants’ Conference – 19-20 September, Hilton Birmingham Metropole NEC
This year’s conference will provide participants with plenty to support their growth into a financial leader. Petra Ingram, Chief Executive of The Brooke, will open the conference with her view on the difference between an accountant and a financial leader. There is extensive coverage of the new draft SORP as well as update sessions on pensions and other legal areas. View the conference programme and book your place soon to get an early booking discount with the Directory of Social Change.
Forthcoming change to the charity accounting regime
Financial Reporting Standard 102 (FRS 102) has been published in its final form and will be effective for financial years commencing on or after 1 January 2015. It replaces all financial reporting standards and statements of standard accounting practice and is designed to apply to all entities, other than those reporting under the FRSSE or international financial reporting standards. You can download a copy here.
The revised charity SORP based on this will be published as a consultation document in July 2013 by the Charity Commission and OSCR. The revised SORP will have a core text that applies to all charities, but then will have guidance for smaller charities using the Financial Reporting Standard for Small Entities (FRSSE) as well as guidance for those adopting the new FRS 102. If your charity is small as defined by the Companies Act (put simply, small entities have income of less than £6.5m) then you may adopt the FRSSE version of SORP now or when you implement the new SORP. If your charity is not small, then you must adopt FRS 102 and the correct version of SORP matched to that standard.
Gift aid online claims
The new Charities Online procedure for claiming Gift Aid went live on 22 April 2013
- As a transitional measure, charities will be able to continue using the existing R68(i) form up to 30 September 2013. If they use the R68(i) they should use the existing guidance on aggregated claims and sponsored events
- For a transitional period, charities will be able to submit details for UK resident donors without a UK postcode. Enter as much of the address as will fit in the space provided, but make sure this includes the house name or number, first line of the address and postal town/city.
- Some charities have special agreements with HMRC for their sponsored event claims. HMRC have announced that all such arrangements will come to an end on 22 April 2013.
There is considerably more information online now and all charities using Gift Aid should ensure that they access the new guidance at Charities Online.
Gift aid on small donations scheme – GASDS
New guidance was issued by HMRC on 3 April 2013 confirming the details of the rules. The first noteworthy point is that gifts must be in cash – coin and notes in any currency. Cheques, credit cards, bank transfers etc are not eligible. If a donation is covered by an enduring gift aid declaration, then GASDS is not available. Each donation should be less then £20, but it is acknowledged that you would not know if someone put three £10 notes into a bucket. HMRC also expect charities to bank the cash collected as soon as possible, stating that best practice would be no later than the next working day. If you think the rules relating to community buildings might apply to you, then we recommend you read the rules carefully.
A Practical Guide to VAT for Charities
To ensure that people who bought this large volume still have access to relevant information, we have produced another update which covers the period right up to March 2013. This includes important cases as well as legislative changes. We are planning a new edition but that will be another year before it comes out.
Sayer Vincent Financial Leadership Awards
To coincide with our 30th year we are launching new awards for finance professionals working in charities and social enterprises. The awards recognise the achievements of individuals or teams who go the extra mile in contributing to their organisation. There are five categories: training the finance team, raising awareness of finance in the organisation, financial reporting, planning and budgeting and improving ways of working. To apply, you simply have to write about your contribution, telling us what you did and why, and how this has benefitted others. We will want to talk to someone in your organisation to provide a reference on your work. The closing date for applications is 12 July and awards will be presented on 19 September. The best application in each category wins £1,000 of training with packages of training and publications for commendations. An independent panel of judges will make the decisions on awards. For further details Click Here.
Strategic forum learning events
Attendance is now free for Sayer Vincent clients. Click here for all events and training.
Adapting to strategic change: a governance perspective – 22 May
Charities go through seasons of growth, survival and consolidation. At the next Trustee Forum shared learning discussion we will seek to share the pivotal cornerstones of leading through each season towards corporate transformation. The focus on this session will be on leading through change. For further information and to book places click here.
Conferences and training with CFG
These are events being organised by CFG where we are speaking or leading the training. Visit CFG website for further details and booking forms.
Introduction to the voluntary sector: for finance professionals and treasurers – 12 September, London
A one-day training course to introduce charity governance, regulation and finance. With plenty of material for future reference and practical case studies, this training course is aimed at finance professionals who are new to charities.
Performance reporting – 30 October 2013, Birmingham; 20 November, London; 4 December, Bristol
This practical course will give you hands-on experience to enable you to develop the reporting of your organisation. It will look at internal processes for performance management as the basis for external reporting and will consider tools such as the Balanced Scorecard, Outcomes Star and Social Return on Investment. We also review examples of impact reporting.
Sayer Vincent speaking at other events
Sayer Vincent is regularly asked to speak at other events. Here’s a selection in the next few months:
CFG Annual Conference - 8 May, London
Kate Sayer of Sayer Vincent will be speaking at the CFG Annual Conference on 8 May in London on the subject of performance reporting. This will take a look at the alternative ways in which charities can engage in impact reporting, social return on investment, balance scorecard or outcomes management. How do you choose the one that is right for you? And we look at the difference between internal reporting and external reporting.
EVOLVE Conference from NCVO – 17 June, London
Kate Sayer will be contributing to a session being run by CFG at the conference on “Getting your annual report right”. This session will help you to both comply and produce a report that brings alive the good work your charity does.
Jordans Charity Tax – 3 July, London
Helen Elliott will be speaking at this all-day event covering a wide range of charity tax topics. The seminar is aimed at helping charities and not-for-profit organisations understand the latest legislation and developments in tax and VAT law so they can avoid making costly mistakes and maximise the benefits and reliefs available.Book with Jordans
Seminars and training
Click here for all events and training.
Preparing charity accounts – 15 May, Bristol; 12 June, Birmingham
Our popular full-day workshop will provide attendees with an overview of charity accounting, the key stages in drafting a set of year-end accounts and tips on how to prepare for the audit. The training is designed for finance staff who may be new to an organisation or the sector, or those that need a refresher. The programme will include opportunities for questions as well as a case studies and practical exercises. To book a place in Bristol click here and in Birmingham click here.
VAT and gift aid for fundraisers – 20 June, Bristol
Getting the best deal for VAT and gift aid may help you to increase your fundraising income. This session will look at practical aspects of managing the tax and VAT aspects of events and other financial methods such as membership schemes. For further information and to book a place click here.
Preventing fraud with good controls – 5 June, London
Reports show that charities suffer as much as other companies. Investigations prove that incidents nearly always occur where controls are lax. This session will look at effective controls to prevent fraud, ways to detect fraud and then response plans if you do suspect fraud. The focus will be on internal fraud risk. We will also look at DIY internal audit as one of the tools to strengthen internal financial controls. For further information and to book a place click here.